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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
/X/ Annual Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended September 30, 1997
or
/ / Transition Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the period from __________ to __________
Commission file number 0-6890
MECHANICAL TECHNOLOGY INCORPORATED
__________________________________
(Exact name of registrant as specified in its charter)
New York 14-1462255
_______________________________ ___________________
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
968 Albany-Shaker Rd, Latham, New York 12110
________________________________________ __________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (518)785-2211
_____________
Securities Registered Pursuant to Section 12(b) of the Act: NONE
_____________
Securities Registered Pursuant to Section 12(g) of the Act
$1.00 Par Value Common Stock
____________________________
(Title of Class)
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this form 10-K. [ ]
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes X No
___ ___
The aggregate market value of the registrant's Common Stock held by
nonaffiliates of the registrant on December 12, 1997 (based on the last sale
price of $5.125 per share for such stock reported by OTC Bulletin Board for
that date) was approximately $16,154,195.
As of February 25, 1998, the registrant had 5,906,296 shares of Common Stock
outstanding.
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<TABLE>
AGGREGATE OPTION EXERCISES AND FISCAL YEAR-END OPTION VALUES
Value of
Unexercised
Number of Securities In-the-Money
Underlying Unexercised Options at
Options at Fiscal Year Fiscal Year
End (#) End ($)
------------- -----------
<S> <C> <C> <C> <C> <C> <C>
Shares
Acquired Value
on Realized
Name Exercise (#) ($) Exercisable Unexercisable Exercisable Unexercisable
- ---- ------------ ----- ----------- ------------- ----------- -------------
R. Wayne Diesel 0 0 35,000 100 $1,050 $103
Martin J. Mastroianni 0 0 36,000 114,100 $25,580 $121,823
James Clemens 0 0 0 30,000 0 $15,900
Douglas McCauley 0 0 0 15,100 0 $553
Stephen T. Wilson 0 0 0 10,100 0 $403
Denis P. Chaves 0 0 0 25,100 0 $853
</TABLE>
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
MECHANICAL TECHNOLOGY INCORPORATED
Date: March 2, 1998 By: /s/ C. Scheuer
_____________ _______________________________
Cynthia Scheuer
Chief Financial Officer
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